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BFE - Black Fire Minerals

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Re: BFE - Black Fire Energy

YT, i am bullish on this one, I have been following it for a few weeks now and pending in market conditions over the next few weeks I can see it appreciating in level. These species can fly quick and hard and in this market i prefer to be in these rather then the blue chips...
 
Re: BFE - Black Fire Energy

YOUNG_TRADER said:
Hmm just reading over EGO's ann today and yep I now see it

150M bls = filled to spill

30M bls = more conservative

Even 10M bls recoverable = $300m EV value = $21m to BFE or 3x its current EV, so really don't need a huge discovery, just some texas tea as you put it Datsun

So cheap, with so many aces up its sleeve and yet so unloved by the markets but as I've seen time and time again that can and does usually change
Click to expand...

With 2.6 Billion shares on issues EGO needs the 150mmbbl a bit more. BFEO doesn't. I don't hold any heads, but my oppies I got at 3.8c avg.. EGO to trade, BFEO to hold.
 
Re: BFE - Black Fire Energy

BFE lost that support at 18 a couple of days ago and have fallen back to 13 on really low volume. Surprised the Jewish boys didn't prop it up buy adding to their position which they were doing above 18. Maybe they're waiting for the market to settle, or dead cat bear rally, like the rest of us. Maybe there's no bear rally....eeek. Maybe approval of the company purchase at the AGM will provide some surities.
 
Re: BFE - Black Fire Energy

Maybe they have made there profits already;)

Not a good day for most speccies, CAG, CFR, NSL etc :mad::mad::mad:
 
Re: BFE - Black Fire Energy

kennas said:
Maybe approval of the company purchase at the AGM will provide some surities.
Click to expand...
Approval to acquire Aico Ado Ibrahim Mining Company Pty Ltd approved but it's gonna take something else for some interest to come back here.

Any thought that the Nigerian oil and rebel problems are dampening this?
 
Re: BFE - Black Fire Energy

Kennas and Ans, look at the chart, all the volume buying/selling was done between 18c - 20c,

I think like 50k has happened at these stupid 14c-15c levels

and Ans Stienpris have not sold any shares so how have they made any money? They were buyers at 18c

These mkts are carnage, everythingg is getting slammed, the banks are losing 5%-10% in a day I mean thats just nuts

If/When the mkts recover things should return to normal, its that simple, until then you will see stupid prices across the board

I made a fortune last time this happened buying selective great Iron ore stories such as ACS MXR and selling once the the mkts became crazy bullish and those stocks put on 200%-300%

I reckon I will be able to do it a gain with BFE, time will tell, but this is dirt cheap for me
 
Re: BFE - Black Fire Energy

YT,

I know the Jews are involved and all but still this really smells like DMM to me, Im talking the volatility, only 45k volume and up 20%

Im itching to spend a few k to buy into this but would like to watch for a bit more.

I think it can go sub 15c again.
 
Re: BFE - Black Fire Energy

Hmmmm maybe ease up on the "JEWS" bit Ans, Kennas I'm looking at you too

Ans this had no real volume under 15c so unless you were hoping to only buy 10k of shares you will get fark all at those levels

I have been picking stocks for a long time and right now I say with all my heart DMM and BFE represent the 2 best fundamentally undervalued re-rating Iron Ore stories on the mkt and so we will wait and see

As I said we will see, no point judging anything in these markets,

As I say this it looks like a few buyers have come out of the woodwork almost 400k, I really hope this is Stienpris
 
Re: BFE - Black Fire Energy

YOUNG_TRADER said:
As I say this it looks like a few buyers have come out of the woodwork almost 400k, I really hope this is Stienpris
Click to expand...
You mean the Jewish boys LN? :)

Yes, lets see another shareholder notice from them. If I had any courage at the moment it might have been me, but alas....
 
Re: BFE - Black Fire Energy

Yeah those are the one's, the boys worth about a gagillion times what you and I are worth, the 'smart money' as they call it

Well for weeks and weeks they made 18c a floor, now it looks like 16c is the new floor they have set, considering how far other stocks have fallen a fall from 18c to 16c in this mkt doesn't seem to bad at all,

its good to know that in these troubled times we're not alone
 
Re: BFE - Black Fire Energy

Yes the JEWISH(not jews) must have known something we didnt.

But yeah it has been holding up pretty well.

Hey YT are there any pending ann's to be made on this in the near time future- because perhaps that then will spark a flurry on this
 
Re: BFE - Black Fire Energy

Some more buying going thorugh the last few days

1 largish 360k order today

Considering most retail peeps are sh1tt1ng themselves lately I'm guessing it was either Steinpris, Leirnet/Bell Potter or EQT Thats the only smart money I can esee buying on weakness
 
Re: BFE - Black Fire Energy

This will be good for the sp:

29 October 2008
Company Announcements Office
ASX Limited By e-Lodgement

Dear Sir / Madam

NOTICE OF TERMINATION OF SHARE SALE AGREEMENT

The Directors of Black Fire Energy Ltd (BFE) advise that they have terminated the agreement for the acquisition of all of the shares in AICO Ado Ibrahim Mining Company Pty Limited with regards to Iron Ore assets in Nigeria as the conditions to the share sale agreement have not been satisfied.

As a consequence of the termination, BFE has withdrawn from its activities in Nigeria.

:eek:
 
Re: BFE - Black Fire Energy

Hey kennas,

Why do you think its good that this has lapsed?

The only other thing BFE has on the go is a oil drill hole in WA.

Whereto for BFE after the WA drilling?
 
Re: BFE - Black Fire Energy

Agent 86 said:
Hey kennas,

Why do you think its good that this has lapsed?

The only other thing BFE has on the go is a oil drill hole in WA.

Whereto for BFE after the WA drilling?
Click to expand...
I was being sarcastic, or facetious, or both.

I only intially bought it for the fe project.

Bailed with the rest of the lemmings during the panic selling a while ago. Saved me a few quid by the look.

I never looked at any of it's other prospects.
 
Re: BFE - Black Fire Energy

Great support from a Director buying big into BFE.

Acquired 20,000 shares!!!

:eek:

HUGE!!!!!!!!!!!!!!!!!!

Total consideration.....$600

:eek:
 
Re: BFE - Black Fire Energy

kennas said:
Great support from a Director buying big into BFE.

Acquired 20,000 shares!!!

:eek:

HUGE!!!!!!!!!!!!!!!!!!

Total consideration.....$600

:eek:
Click to expand...

You are right

Probably that huge investment to ensure that shares are liquid and not taken out of ASX failing listing requirement. There are few like them CXG, GCS, IRL etc:p:
 
Re: BFE - Black Fire Energy

No one seems to be interested in BFI and there was no posting since mid Nov:rolleyes:

However look at today BFE has gone up by more than 56 % even on a smaller volume. Another Chinese Invasion now strategically out of Australia ?
:
Code Last % Chg Bid Offer Open High Low Vol
BFE 0.050 56.25% 0.050 0.065 0.049 0.050 0.049 150,999

Any one's radar on IO could add to this phenomenon ?
 
Re: BFE - Black Fire Energy

Current depth levels are really interesting. Today this went up 2.5c to finish at 16.5cents.

Sellers are very very light on at the moment. Buying depths seem good at the close. Theres only about 250,000 shares left up to 17c. Beyond that theres little resistance. One announcement thats positive or just some positive sentiment for this stock and it could go on big runner.
 
MAIDEN JORC RESOURCE EXCEEDS EXPECTATIONS PILOT MOUNTAIN TUNGSTEN-COPPER PROJECT

HIGHLIGHTS
● Significant maiden JORC resource estimate for the Desert Scheelite Deposit completed by independent consultants, Golder Associates, exceeds guidance by 36%.
● Indicated and Inferred Resource of 6.79Mt @ 0.31% tungsten trioxide (WO3), 22.8g/t silver and 0.17% copper
reported at a 0.2% WO3 cut-off with 90% of this resource in the “Indicated” category. Resource contains;
• ~2.1 million MTU’s of WO3
• ~25 million pounds of copper
• ~4.9 million ounces of silver
● Broader Indicated and Inferred Resource at a lower cut-off grade of 0.1% tungsten trioxide (WO3) of 12.99Mt @ 0.23% WO3, 17.2g/t silver and 0.12% copper represents a potentially significant bulk tonnage target with 84% of the resource in the “Indicated” category.
● Desert Scheelite deposit remains open in all directions with the most easterly drill hole (DSDD-15) of the recent diamond drilling program returning an exceptional down-hole intersection of 13.9m @ 0.89% WO3, 1.75% copper and 31g/t silver.
● Updated combined Exploration Target* across the three primary deposits of 10.8 – 12.5Mt @ 0.32 –0.35% WO3. This includes 3-4Mt @ 0.36 – 0.41% WO3 at the Garnet & Gunmetal Deposits.
● Eleven other prospects within the project area are yet to be assessed.
● Metallurgical reviews of historic Union Carbide Feasibility Study data in addition to new test work has commenced to investigate modern processing and blending alternatives to increase historical recoveries above the reported 76% - 86%.
● Scoping Study planned to commence in current quarter.


Base Metal Resources – Potential Significant By-Product Credit Metals
While tungsten is the primary commodity focus for the Project, significant copper & silver mineralisation and lesser zinc and lead mineralisation has been identified by drilling. Within the 0.2% WO3 cut-off resource estimation more than 4.9moz of silver and 25 million pounds of copper mineralisation has been defined.
In addition to the tungsten resource estimation, Golders were asked to provide resource calculations specifically for copper and silver so that the potential significance of these metals within Desert Scheelite could be determined.

Copper Resource – 0.2% Cu cut-off
Indicated & Inferred - 2.00Mt @ 0.48% Cu, 0.31% WO3 and 27.7g/t Ag.
Silver Resource – 20g/t Ag cut-off
Indicated & Inferred – 2.83Mt @ 54.7g/t Ag, 0.29% WO3 and 0.26% Cu.


Based on the highly successful resource definition program at Desert Scheelite, the Company has updated the “Global” resource potential for the Project.
The new combined Exploration Target* across the three primary prospects, including the Desert Scheelite 0.2% WO3 JORC resource, is 10.8 – 12.5Mt @ 0.32 –0.35% WO3
In addition to this Exploration Target, a total of 11 other prospects within the project area are yet to be assessed.

* This targeted tonnage and grade is conceptual in nature and there has been insufficient exploration to define a Mineral Resource under the JORC Code and it is uncertain if further exploration will result in the determination of a Mineral Resource
 
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